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Services, Composite PMIs Fall but Signal Third Consecutive Month of Expansion

  • Russia’s composite PMI fell to 55.1 in April from 56.8 in March, signalling the third consecutive month of expansion with a figure above 50. New Orders fell to 54.3 versus 56.7 prior. The services index fell to 55.9 from 58.1, similarly signalling its third month of expansion.
  • Foreign Minister Sergei Lavrov visits India today for a Shanghai Cooperation Organization meeting. Weekly CPI data is on the docket this afternoon (1700BST/1900 local time).
  • There is little else in the way of domestic news flow with local sources predominantly reporting on yesterday’s alleged drone attack on the Kremlin by Ukraine.

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